NDC Schemes and the Labor Market

• Tác giả: Robert Holzmann
• Ngôn ngữ: eng
• Ký hiệu phân loại: 331.12 Labor market
• Thông tin xuất bản: World Bank, Washington, DC, 2019
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 295801
• Chủ đề: 1. DEMOGRAPHICS; 2. ELDERLY LABOR; 3. LABOR FORCE PARTICIPATION; 4. PENSION REFORM; 5. RETIREMENT AGE

Tóm tắt

Defined contribution (DC) schemes whether unfunded or funded are often considered superior to defined benefit (DB) schemes in their ability to address labor market issues, particularly in encouraging formal employment and delayed retirement. Conceptually, the assessment is based on superior incentives to work and save. Yet economic and social realities are more complex. This paper explores design and labor market conditions that potentially constrain DC schemes. The paper concludes that to achieve their conceptual potential, DC schemes require design innovations, including a better integration of basic provisions and complementary labor policies that promote job creation in the formal sector and expand job opportunities during old age.